McManus and Magnier-backed UK pub group in €760m pension insurance deal

All Bar One's owner, Mitchells & Butlers, struck the deal to insure all members in its executive pension plan

JP McManus, above, and Joihn Magnier own more than 23% of the Mitchells & Butlers group which runs the Harvester, O'Neill's, and All Bar One pub chains.

Irish-backed UK pub operator Mitchells & Butlers has agreed a £650m (€760m) pension insurance deal with Legal & General.

The deal insures all members in the Mitchells & Butlers executive pension plan, British insurer L&G said in a statement.